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Dec 19, 2024

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold price has been fluctuating around 2615.00 since the morning, waiting to gather negative momentum that contributes to pushing the price to resume the expected downtrend for today, whose next target reaches 2555.00, which will remain in place unless the 2655.00 level is breached and stabilized above it.

Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
2625.16
2623.56
2622.11
2620.75
2619.01
2618.14
2616.29

USOIL chart on the hourly time frame

USOIL chart on the hourly time frame

Oil price is fluctuating so far and as long as the price is below the 70.58 level, the bearish scenario will remain valid for today, waiting for a negative incentive that will push the price to achieve our next target at 68.65, noting that breaking it will lead the price to visit the 67.55 level directly.

Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
70.172
70.028
69.939
69.797
69.660
69.569
69.429

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